Electricity bills to go up by 4-5 percent

The implementation of the prior actions required by Greece's creditors for the release of the next bailout subtranche will lead to electricity bills rising by 4 to 5 percent.

The rate rises stem from the adjustment of the levy for renewable energy sources, aimed at eliminating the deficit of the RES account.

The new methodology of distributing the levy's burden across the various categories of electricity consumers is one of the five milestones related to energy.

The law provides for the RES deficit to be covered by power companies according to market share, so Public Power Corporation must shoulder 89 percent of it.